The Consolidated Fund, a large consolidated (or co-mingled) fund, provides adequate diversification, an economy of operation, and the application of sound accounting and investment procedures for the benefit of all constituent organizations and their assets. By design, the Consolidated Fund is suitable for any funds that will be invested for three-to-five years or longer. It is a balanced fund (i.e. stock, bond, REIT) with a total return payout, providing both current income and the potential for long-term capital appreciation. By investing in the Consolidated Fund, our constituent organizations are relieved of burdensome financial work, while knowing that their funds are being managed in a socially responsibility and cost effective manner.
• Socially responsible investing in harmony with Friends’ Testimonies
• Extremely low expense ratio in comparison to other funds
• Solid long-term performance
• Steady stream of income through predictable total return distributions
(Current payout of 5.5%)
• Lower level of risk through diversification
• Ability of constituent organizations to maintain separate funds for separate purposes
• Reduced burden for your volunteers and staff
• Opportunity to individualize semi-annual distribution instructions (accept payout, reinvest all or reinvest just a portion of the payout allocation)
• Availability of loans using units as collateral
• Proxies voted, guided by Quaker beliefs and values
• Executive Director and staff who place a high priority on answering questions and supplying information to constituents as needed
• Continuity of management assured by experience professionals on the Friends Fiduciary Board of Directors
• Quarterly performance reports (AIMR standard) for each individual manager and for the total fund
• Quarterly newsletter
• Annual Report and audit
• Annual meeting held each June in Philadelphia, open to all constituent organizations
Despite the increasing complexity of the investment world, we adhere to the twin principles of common sense and simplicity. We do not charge our constituents fees, as such, just the costs of operations. These costs are deducted before any income earned per unit is calculated. Total costs for the Consolidated Fund, including management fees, have averaged .54% (54 basis points) of assets in the Fund over the last five years . Annual costs are listed each year in the annual report.
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